The Asian Development Bank (ADB) and its partners have launched the Financing Investments and Eradicating Land Degradation and Desertification (FIELD) Initiative, a regional partnership aiming to attract at least $2 billion by 2035 for programs that restore lands and strengthen drought resilience across Asia and the Pacific, according to a press release issued on 24 August 2026. The announcement was made during a ministerial dialogue at the 17th Session of the Conference of the Parties (COP17) to the United Nations Convention to Combat Desertification (UNCCD) in Ulaanbaatar, Mongolia. FIELD will help countries design, access finance, and implement land restoration projects. It will also apply innovative finance approaches such as derisking structures, blended finance, and capital market instruments to catalyze private capital. An initial pipeline of projects covering land and forest restoration, as well as river-basin and water management, has been identified.